Stock Market Commentary: Stocks tried to rally but closed mixed on Thursday after China injected nearly $17B into the system to boost markets and The European Central Bank hinted at more money printing. Markets across the globe are deeply oversold and way overdue to bounce. Oil prices jumped as well and are now trading above…
Looking for signs of stocks’ final washout as fear, panic spike By, Adam Shell, USA TODAY 10:17 p.m. EST January 20, 2016 First came the Dow’s 565-point whoosh to the downside Wednesday. Then came the rebound rally that trimmed the Dow’s losses for the day to 249 points and which Wall Street hopes was the final washout — or so-called investor “capitulation”…
Early yesterday, we told you conditions were in place for a potential washout day. We can never predict one is going to occur but we certainly can know when one can possibly occur. These washouts come from massive pessimism showing up AFTER a huge drop. We had both! By the close, we got the washout as…
Stock Market Overview: Stock futures are down on flattish as we write this but have been all over the map throughout the night. This comes after Wednesday’s late day reversal to the upside. Overnight, China injected $16.7B to prop up markets. That was their largest injection in three years and the second one this month. Even…
Stock Market Commentary: At one point, the Dow fell 565 points on Wednesday before reversing around noon and rallying sharply into the close. Oil prices fell to $27/barrel, plunged over 6% and hit a fresh multi-decade low but also bounced and closed off their lows. Japan’s stock market officially entered bear market territory (decline >20% from…
WASHOUTS PART 2 By Gary Kaltbaum We know…we are writing again to you! We do not like micro-managing markets. Our interest lies more with the big picture. But earlier today, on purpose, we wrote to you about the potential for washouts. We explained what it is and what it means. It is early. Markets are…
“LOOKING FOR WASHOUTS!” We do not predict washouts. We have no idea when washouts occur. We just know that often, severe market drops end on a gargantuan washout day. When one occurs, one needs to react because washouts and bear market rallies are usually strong. A washout day does not end the bear market but often will end…
Last night on CNBC’s Mad Money, host Jim Cramer spent a good chunk of the program talking about Fibonacci levels in the stock market and how a seeming correct interpretation of them led market technician Carolyn Boroden, who goes by the handle “Fibonacci Queen,” to become bearish in July 2015, as reported by Yahoo Finance….
Greetings from Davos. Just kidding! WE’RE NOT IN DAVOS! We couldn’t even get invited to the Bronx! Not that there is anything wrong with the Bronx. But we are in beautiful Orlando, Florida where it feels like Davos with a low of 30° today. That freakin global warming! As we write this, another major gap to the…
Stock Market Overview: Stock futures are down sharply before Wednesday’s open as investors continue to unload their positions. Oil prices fell overnight to a new multi-year low and continue to implode. This relentless selling further signals what Gary has been telling you for months: markets across the globe are forecasting a recession. Gary’s Thoughts: Soon the rest…
